Santander Consumer USA is going public. According to documents filed with the Securities and Exchange Commission last week, Santander Consumer USA intends to use the net proceeds received through the $50 million initial public offering for general corporate purposes. [Read More]

The 2010 Patient Protection and Affordable Care Act will continue to impact the costs and procedures associated with delivering health insurance. For dealers, rising costs and government mandates may prove hard to follow. In light of these changes, AIADA and Northwestern Mutual will hold a free webinar titled, “Healthcare Reform and Its Impact: Planning Strategies […] [Read More]

How strong is subprime? Experian Automotive shed a bit of light on this in a recent analysis detailing just how much momentum the subprime finance sector gained during the first quarter. According to its State of the Automotive Finance Market report, Experian found that the market share for finance companies — lenders such as Santander […] [Read More]

As sales of new and used vehicles continue to gain steam, so is the momentum for franchised dealerships bringing on more workers. Employment figures moved higher for the third year in a row, according to the annual report from the National Automobile Dealers Association In 2012, the average dealership in operation employed 55 people and […] [Read More]

In the latest ALG Industry Report, residual values didn’t change much from the previous edition. However, the future used-car supply situation could shake things up a bit. ALG has upped its outlook on used market supply, meaning lower residual values could be on the horizon. “At the industry level, our supply forecast has increased, leading […] [Read More]

How the Consumer Financial Protection Bureau is conducting its business continues to be questioned by leaders on Capitol Hill. On Tuesday, Sen. Mike Crapo requested that the Government Accountability Office (GAO) investigate what he called the "big data" collection effort being undertaken by the CFPB on consumer spending habits. [Read More]

The annual report from the National Automobile Dealers Association showed sales figures generated at franchised dealerships’ service and parts departments as well as body shops in 2012 exceeded $80 billion for the second year in a row. The exact figure according to NADA Data 2013 came in at $81.35 billion, representing a 0.1-percent dip from […] [Read More]

Ever since the Consumer Financial Protection Bureau released its fair lending guidance to indirect auto lenders on March 21, dealers and lenders have questioned the basis for the guidance — and now Washington lawmakers are, as well.   The foundation for the CFPB’s guidance wholly rests on a disputed theory of liability called “disparate impact.” […] [Read More]

Auto Data Direct pointed out that tow, storage and recovery businesses in Florida should now be encountering changes in requirements for the good faith letter process and certificate of destruction procedures based on a new law passed by the Florida Legislature. As a result, ADD is offering what it believes is an affordable and effective […] [Read More]

After a year of multiple acquisitions, restructuring and rebranding, Primeritus Financial Services celebrated the company’s 500,000th repossession assignment on Monday.  Primeritus Financial Services chief executive officer Chuck Tapp reflected on the accomplishment and shared when he hopes the company will hit its next milestone in connection with its recovery management, skip-tracing and remarketing services. “It’s […] [Read More]